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First Young Scholars Conference on Structural Change and Industrial Policy

Structural Change Conference - Johannesburg

Start time:

July 20, 2021 - July 21, 2021

EDT

Location:

University of Johannesburg, Young Scholars Initiative, Johannesburg, Gauteng

Type:

Workshop

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Description

Despite growth spurts covering over two decades across Africa, the economic structures of many African countries remain largely commodity based, without successful industrialisation. As a result, African countries continue to record significant balance of payment deficits as they import manufactured consumer and capital goods. The 2008 global financial crisis, and more recently the global economic downturn associated with COVID-19, revealed the consequences for these commodity dependent countries, not least the economic recessions experienced by Africa’s largest economies. Rising unemployment, inequality and poverty have also highlighted the deficiencies of the economic structures of these countries, including their susceptibility to macroeconomic fluctuations from the global market. These factors have led to increased calls for structural transformation and a growing focus on industrial policy on the continent.

Moreover, the recent aspiration towards greater regional integration through the Africa Continental Free Trade Agreement (AcFTA) has brought to the fore conversations around the need to expand the productive capabilities amongst African countries to maximise the benefits of trade. Aspiration towards regional integration also opens up conversation around the potential for regional value chains, which further suggest some level of protection for firms on the continent.

However, the resurgence of industrial policy in many African countries has been challenged by the decline in manufacturing share of employment in value added and increase in share of services in total output. What is more, questions remain around Africa’s ability to develop its manufacturing base in light of more recent emergence of global production networks and

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